In the context of a weakening US dollar, the euro/USD in1.0775-80Moderate recovery near the region

• euro/The US dollar has moderately recovered from its multi week low hit earlier Thursday.
• The Federal Reserve's interest rate cut bet and the strong recovery in demand for the yen have prompted some US dollars to take profits.
• A softer risk tone should limit the decline of the US dollar and limit the currency pair in the dovish remarks of the European Central Bank.

euro/The US dollar currency pairs in 1.0700 The nearby area has attracted some buyers, which was touched upon earlier this Thursday 11 month 14 The lowest level in recent days seems to have ended six days of continuous decline.Due to the weakening of the US dollar, early morning spot prices in Europe were 1.0775-1.0780 There was a slight increase near the region, but there was a lack of bullish belief.

The decline of the US dollar from its two-week high hit on Wednesday may be due to the Federal Reserve(Fed)Some profit taking triggered by pigeon faction expectations.In addition, Japanese yen（JPY）The strong rebound in demand is also another factor suppressing the US dollar.Nevertheless, the generally weak tone in the stock market should help limit the losses of the safe haven currency, the US dollar, and limit the euro/Any meaningful appreciation trend of the US dollar currency pair.

In addition, the European Central Bank(ECB)The recent dovish comments from officials may prevent traders from making new bullish bets on the euro.EuropeIsabel Schnabel, a member of the central bank's board of directors, stated on Tuesday that given a significant decrease in inflation and the cancellation of interest rate cuts, the central bank may not further raise interest rates.In fact, the market is currently digesting 2024 Annual cumulative interest rate reduction 142 The possibility of one basis point should be limitedeuro/USD exchange rate。

In terms of economic data, the Eurozone's economic powerhouse Germany10Monthly industrial output decline0.4%And it is expected to decrease last month0.2%and-1.3%。Market participants are now looking forward toFirst time per week in the United StatesThe release of data on the number of people applying for unemployment benefits is expected to gain some momentum in the early North American trading session, although the focus will still be on FridayNon agricultural employmentOn the report.At the same time, the complex fundamental background mentioned above makes a cautious approach to wait for strong follow-up buying before confirming recent gains1.1015Region or11The significant pullback from the three-month high touched by the month has come to an end.

Technical level worth paying attention to